The CFPB tried to change its name. Here’s why it’s giving up

The watchdog agency has been known as the CFPB since opening its doors in 2011, but its former acting director, Mick Mulvaney, a Trump appointee, believed it should instead be called the Bureau of Consumer Financial Protection, or BCFP.

Critics called the effort a costly stunt aimed at undermining the bureau’s identity. The Hill newspaper, citing an agency analysis, reported that the name change could cost the agency up to $19 million and financial firms up to $300 million.